*MONEY TIMES TALK - 21th JUNE 2025* *Although Money Times recommendation have outperformed other media, stock brokers and research houses, the brief recommendations under Money Times Talk (MTT) cannot display ‘BUY’, ‘SELL’ or ‘HOLD’ recommendations. Readers should, therefore, exercise their own judgement and evaluate the future prospects of the stock given its past performance, industry prospects in the backdrop of a growing economy and in consultation with their investment adviser.* *As per astrology view,* some important turning dates are 23, 27 & 30th June 2025. *As per expert astrologers,* the Mars-Ketu yuti in Leo (7th June to 28th July 2025) may trigger global and domestic disturbances. Caution advised. *Market cap to GDP at 147.5 vs 10-year average of 98 signals overvaluation. As per market veteran, remain cautious at these levels.* *Alert: 21 of 29 IPOs are trading negative since listing.* MobiKwik leads in loss from IPO/high price. Overhyped narratives, high valuations and unlisted trades hurt investors. HDB Financial IPO at Rs.740 vs Rs.1100–1200 unlisted price adds to caution. *Avoid overpaying in IPOs, both mainboard and SME.* *Alert: Promoters and PE/VCs have dumped over Rs.40,000 cr. in June via large block deals,* raising red flags on stretched valuations and supply overhang. Focus on companies with strong fundamentals, as fund managers often show more conviction than the promoters themselves. *Alert: Sharp corrections seen in strong names from their year highs* – 1) Tube Investment: -40% 2) Tanla Platform: -40% 3) Deepak Nitrite: -40% 4) ZF Steering: -41% 5) REC: -41% 6) Voltamp: -41% 7) SJVN: -41% 8) IRFC: -42% 9) Aarti Ind: -42% 10) EMS: -43% 11) Tata Motors: -43% 12) Amara Raja: -45% 13) Jyothy Lab: -45% 14) JK Paper: -45% 15) Birlasoft: -45% 16) IndusInd Bank: -46% 17) Natco Pharma: -46% 18) Sonata Soft: -47% 19) CUMMINS: -50%. *As per market veteran, steep rallies invite steep falls—stay long-term but reassess regularly with a 360° view.* *India’s defence sector has quietly minted multibaggers in 3 years* – NIBE up 3,482%, HAL 2,336%, Apollo Micro 1,345%, MTAR Tech 1,199%, Data Patterns 1,172%, Zen Tech 908%, Premier Explosives 842%, SIKA 800%, Axiscades 716% – a reflection of India’s defence manufacturing boom. *Investor Alert:* Don’t fall for cheap unlisted share traps. Unrealistically low offers often involve fake sellers, non-transferable shares, or legal lock-ins. Many investors lose capital chasing unofficial deals. Always check SEBI compliance, lock-in periods, and fundamentals and verify with trusted platforms or advisors before investing. *Top multibaggers since 2009 have delivered over 100x returns in 16 years* – Bajaj Finance 618x, Ajanta Pharma 364x, Astral 338x, Uno Minda 221x, Eicher Motors 173x, KEI 144x, SRF 136x, Navin Fluorine 132x, Aegis Logistics 128x, TVS Motor 121x – true wealth creators. *As per market veteran,* Nifty may compound in low double digits over next 5 years; large caps offer better value than SMIDs. Themes like Make in India, Defence and Digitisation look fairly valued—moderate return expectations amid global uncertainty. *NSE IPO a step closer,* as SEBI puts clearing corp separation on hold, removing a major roadblock. Focus now shifts to rationalising trading-clearing fee structure. As per market veteran, this signals renewed regulatory clarity and may fast-track India’s most-awaited IPO. *FOMO in unlisted space proving costly*—HDB Financial IPO at Rs.700-740 vs Rs.1200+ in grey; Waaree at Rs.1500 vs Rs.3000+; similar caution advised for NSE. *Avoid overpaying in unlisted deals—stick to fundamentals and long-term view.* *As per market veteran,* the market now feels like a Santoor ad—just as age can't be judged by skin, portfolio returns can't be judged by looking at Sensex or Nifty. *Indices are up, portfolios are down.* *Fraud Alert:* SEBI penalised several names for misleading investors—PR Sundar, Alpesh Furia, Pradeep Pandya, Hemant Ghai, Sanjiv Bhasin, Simi Bhaumik, Ashish Kelkar, Kiran Jadhav, Mudit Goyal and Baap of Chart. While they shouted ‘Buy! Buy!’ on prime channels, they sold. *Retail must beware of such market operators and social media scams.* In 10th May MTT, *DCM Shriram* given at Rs.993 touched Rs.1196, *Kalyani Steel* given at Rs.719 touched Rs.958 - a gain of 17% during the week in highly volatile sentiments. In 17th May May MTT, *International Conveyors* given at Rs.81 touched Rs.94, *Sandhar Techno* given at Rs.520 touched Rs.573 & still now at Rs.553 looks very good. *Selan Exploration* given at Rs.573 touched Rs.766 during the week in sell on rise sentiment, *Cravatex* given at Rs.429 touched Rs.489 in sell on rise sentiment. Last week in 14th June May MTT, *Duroply* given at Rs.208 touched Rs.250 - a gain of 20%, *International Conveyors* given at Rs.85 touched Rs.94, *Indo Borax* given at Rs.204 touched Rs.210 & still now at Rs.200 looks very good, *Nelcast* given at Rs.129 touched Rs.152 - a gain of 18% during the week when sentiment in small/midcaps was highly negative. *Kesar Petroproducts* posted 101% higher FY25 PAT of Rs.9.96 cr. on Rs.9.67 cr. equity with strong 5-year PAT CAGR of 43%. New 6,000-ton fertiliser unit at Ratnagiri begins production; expects 20% topline and 60%+ profit growth. Debt-free target in FY26. Stock looks attractive at Rs.26 vs 52-week high of Rs.33. *Rubfila International* only Indian maker of both Talcum & Silicon Coated rubber threads, posted FY25 PAT of Rs.29.44 cr. and raised dividend to 40% from 24%. Strong reserves of Rs.266.89 cr. on Rs.27 cr. equity, debt free and attractive at Rs.75 cum dividend. Re-rating potential with yield play. *India Nippon Electricals,* a Lucas-TVS group firm, posted 39% higher FY25 PAT of Rs.82.28 cr. and paid 250% interim dividend vs 205% in FY24. No. 1 in ignition systems, aftermarket sales at peak, strong EV product pipeline. Stock trades at a PE of 19.5x, stock looks attractive at Rs.707 vs 52-week high of Rs.867. *IOLCP* gets EU REACH certification for Acetic Anhydride, enabling exports across Europe. A key trigger; stock may surpass its 52-week high. *ITD Cementation* bags Rs.960 cr. orders for Trivandrum Airport and Kolkata commercial project. Core infra play; keep on radar. *Indo Borax Chemicals* to launch 4,000 MTPA boron oxide unit in July 2025 with Rs.20 cr. capex. Huge reserves of Rs.332 cr. on Rs.3 cr. equity, cum 100% dividend, PE 15. Gains big from Rs.10.57 cr. customs relief. *Stock may double from CMP Rs.200; 52-week high is Rs.262.* *Simmond Marshall,* in tie-up with UK-based Firth Cleveland, posted 162% higher FY25 PAT of Rs.8.96 cr., Q4 PAT up 349%. Reserves at Rs.42 cr. on Rs.2.24 cr. equity, PE 16, ROE 22.4%. Strong 25.8% PAT CAGR; looks attractive at Rs.124 vs 52-week high of Rs.182. *Univastu India* posted 48% higher FY25 PAT of Rs.10.47 cr. on Rs.171 cr. revenue cr. Received Rs.319 cr. new orders in May nearly 2x FY25 sales. Looks attractive at Rs.232 vs 52-week high of Rs.345. *India Pesticides* gets a major boost as govt imposes 5-year anti-dumping duty on Chinese Pretilachlor & PEDA. FY25 PAT stood at Rs.82.18 cr. (Q4 PAT rose 1953%) with 75% dividend. PEDA capacity to reach 8,500 MT by Q2FY26. Attractive at Rs.207 vs 52-week high of Rs.264 and all-time high of Rs.432. *Sportking* posted FY25 PAT of Rs.109.25 cr. (up 55%) and 122% higher Q4 PAT. Reserves at Rs.993 cr. vs equity of Rs.13 cr. with 100% dividend declared. Solar plant (40.3 MW) to cut power cost by 10–12%. Attractive at Rs.107 vs 52-week high of Rs.160. *Artefact Projects* posted 1254% higher Q4 PAT cut debt with Rs.5 cr. prepayment and trades below private placement price of Rs.111. HNIs including Sundeep Arjun Karna raised stake. New orders worth Rs.13.39 cr. in 2 months. Looks attractive at Rs.72 vs life-time high of Rs.255. *Gajanand International* IPO came at Rs.36. Stock looks attractive at Rs.13 vs 52-week high of Rs.43. *Oceanic Foods* IPO came at Rs.65. FY25 PAT rose 96% to Rs.4.95 cr., P/E just 11x. Promoters hold 74.07%, HNIs 15.14%. Stock looks attractive at Rs.49 vs 52-week high of Rs.84. *BSE SME Chothani Foods* hit 52-week high of Rs.36. Just keep on track. *Rana Sugars* posted 180% higher Q4FY25 PAT of Rs.39.80 cr. vs Rs.14.20 cr. in Q3. Stock looks attractive at Rs.15.50 vs 52-week high of Rs.28. *Vaxfab Enterprises* posted 189% higher Q4FY25 PAT of Rs.1.79 cr. vs Rs.62 lakh YoY. Keep track. *SEPC* rights issue fully subscribed in just 7 days showing strong confidence from shareholder. *Supreme Power Equipment* to raise Rs.21.07 cr. via preferential issue of fully convertible warrants. *Ganga Bath Fittings* secures Rs.1.67 cr. PTMT order from Prince Pipes. *Khazanchi Jewellers* posts 145% revenue growth of Rs.1,016.01 cr. in H2FY25, backed by premium offerings and loyal customer base. *SEPC* rights issue oversubscribed by 162% by Day 10 with issue open till 23rd June 2025. *Supreme Power Equipment* bags Rs.7.56 cr. order from a renewable power company for 25 inverter-duty transformers (1250–6000 KVA/33 KV), boosting solar sector exposure. *Leo Dryfruits & Spices* Trading sponsors MSME Star Awards 2025 to support women entrepreneurship. *Unihealth Hospitals* aims 1,000-bed capacity in India & Africa via asset-light model — scalable growth plan in healthcare sector. *Emerald Finance* partners with Master Capital Services to launch Early-Wage-Access program. *Supreme Power Equipment* wins Rs.8.8 cr. order from an EPC contractor executing a Karnataka Power Transmission Corporation Ltd (KPTCL) project for four 20 MVA, 66/11 KV transformers. *Kellton Tech Solutions* board approves Rs.69.30 cr. fundraise with promoters subscribing up to Rs.56.70 cr. Also, stock split announced in 1:5 ratio. Positive signal for long-term investors. *Jaiprakash Power Ventures* operates in coal, sand mining, and power generation with 2,220 MW capacity across hydro and thermal. Plans Rs.15,000 cr. FGD and Rs.7,600 cr. coal mine capex via internal accruals. Power demand and asset base make this a strong turnaround bet. *RattanIndia Power* has 2,700 MW installed capacity and strong cash flows from thermal business. Management hints at renewable foray. With sector momentum and Reliance Power revival, this too may witness a turnaround. *Aartech Solonics,* a microcap in defence & power (Mcap Rs.215 cr.), has posted turnaround results with record order book. Developed AAPM for AFVs in tie-up with IIT Mumbai & Sudarshan Chakra Corps. Promoter stake hike signals confidence. High potential going ahead. *Amwill Health Care* (PE 12.9x) operates an asset-light model with 112 derma-cosmetic products, expanding into new states. Debt-free, raised Rs.49 cr. for working capital and branding. Looks poised to grow in a falling market. *Lloyd Engineering Works* caters to Hydrocarbon, Steel, Nuclear, and Defence. Received Rs.20.67 cr. order from Cochin Shipyard; raised Rs.987 cr. via rights. With diversified offerings and order wins, this counter holds solid potential. Rising crude prices may trigger a re-rating in power producers. *NLC India* trades at a PE of 11.8x vs the industry average of 38.42x, offering over 50% return potential in the long run. With crude holding above $77, *Jindal Drilling* looks attractive at Rs.640 (8x P/E) vs its 52-week high of Rs.1000 — could be a strong pick as per market veteran. *Archies* secures its first export order from the US — a key China+1 trigger; early signs of a turnaround in the gifting segment. Watch *BF Investment* this week — with group peers like Kalyani Steel, Bharat Forge and BF Utilities buzzing, it trades at nearly half its peak valuations. *Jewellery stocks remain under pressure* due to weak demand amid elevated gold prices — best avoided until price correction. *Voith Paper Fabrics* posted Q4 EPS of Rs.25.8 and FY25 EPS of Rs.90.9 on equity of Rs.4.4 cr., which may lead to FY26 EPS of Rs.105. Trades at a P/E of 18x vs MNC peers at 40x–70x. Debt-free, *IST,* in auto components and precision parts, posted FY25 EPS of Rs.120 on small equity of Rs.5.8 cr. Has deferred sale of 30.8% stake in associate IST Steel and Power (JSW Projects group). *LIC Housing Finance* posted FY25 EPS of Rs.99, trades at a PE of 6.1x and 1.04x P/BV vs sector average P/E of 17x. Retain in portfolio. *Kalyani Steels* posted FY25 EPS of Rs.50 and is set to cross Rs.60 in FY26; recent Rs.505 cr. Kamineni Steel & Power acquisition to boost growth. Stock may surpass 52-week high of Rs.1279. Govt-owned *General Insurance* trades 28% below its 52-week high; FY25 EPS of Rs.42.4, P/E of 9.6x vs industry average of 24x. Long-term outlook remains strong. *Indian Bank* clocked 29% higher Q4 EPS of Rs.22.1 and FY25 EPS of Rs.84. Share trades at a P/E of just 7.4x vs private bank average of 18x. Looks undervalued. *Goodluck India’s* Rs.220 cr. defence-aerospace forging plant going live soon; bullet train and Rs.75,000 cr. defence spend to drive growth. *Winsome Textiles* in the yarn and knitwear space posted FY25 EPS of Rs.14.2. Share trades at a P/E of 7.4x and may surpass its 52-week high of Rs.128. *Transrail Lighting* posted FY25 EPS of Rs.26 with a robust Rs.17,240 cr. orderbook; capex of Rs.198 cr., which may lead to FY26 EPS of Rs.35+. Fund and HNI interest rising. *Arkade Developers* acquired 6.28-acre land for Rs.172 cr. with GDV of Rs.1700 cr. and four project launches in pipeline it targets Rs.3500+ cr. revenue in FY26. Chennai-based *Elnet Technologies* backed by Electronics Corporation of Tamil Nadu, posted FY25 EPS of Rs.43.9 on tiny equity of Rs.4 cr. Share trades at an attractive P/E of 7.7x. *Mawana Sugars* clocked 32% higher Q4 EPS of Rs.15.8 and FY25 EPS of Rs.28, up 192%; trades at a low P/E of 3.5x vs industry average of 21.9x. *Money Times Talk is part of oldest, reputed & very popular financial weekly 'Money Times' publication.* *Do your due diligence before taking any investment/ trading decision.*